World Economic Forum: Morocco 4th Most Competitive Economy in Africa

Casablanca, Morocco (TMT)-Morocco has the most competitive economy in North Africa, including the 4th most competitive economy in Africa according to the 2015 report on the competitiveness of Africa, a report published jointly by the African Development Bank (ADB), the World Economic Forum (WEF), the Organisation for Economic Co-operation and Development (OECD) and the World Bank (WB).

On the overall scale, Morocco ranked 72nd, in a ranking that included 144 countries.

The ranking takes into account a country’s competitiveness in regards to the following criteria: infrastructure, macroeconomic environment, health, primary education, innovation, and business climate.

While Morocco relatively ranked “not that bad” vis-à-vis the infrastructure, macroeconomic environment, health, primary education and innovation criteria, the North African kingdom suffered a blow in the “business climate” criterion, with the report citing bureaucracy, access to financing, corruption, and restrictive labor regulations as major impediments in Morocco’s way towards a better competitiveness.